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View Diary: Is Mitt Romney part of the dastardly 47%? (37 comments)

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  •  18,000 earning more than $500,000 paid no taxes... (1+ / 0-)
    Recommended by:
    Janet 707

    in 2010.  

    and of those, 4,000 made more than $1 million.


    "Only Little People Pay No Taxes"

    ...the superrich don't pay as much as they used to—and thanks to a combination of tax cuts and preferential tax policies, their tax obligations can be less demanding than the so-called little people's. In fact, the very wealthiest Americans' tax burden has been steadily dropping for years...

    ...Tax rates for the wealthy have fallen substantially since they peaked in the 1940s...

    How to Pay No Taxes: 10 Strategies Used by the Rich

    If you have lots of money, Tuesday, April 17, was one of the best tax days since the early 1930s: Top tax rates on ordinary income, dividends, estates, and gifts remain at or near historically low levels....

    For the 400 U.S. taxpayers with the highest adjusted gross income, the effective federal income tax rate—what they actually pay—fell from almost 30 percent in 1995 to just over 18 percent in 2008... for the... the top 1 percent of taxpayers, the effective federal income tax rate dropped from 29 percent to 23 percent in 2008...

    ...The true effective rate for multimillionaires is actually far lower than that indicated by official government statistics...

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